Evans Accountants & Tax Specialists

17/07/2023

Bored of doing your taxes? Would rather be out enjoying the sunshine than stuck glued to a computer?

Then feel free to give us a message! We pride ourselves on our work and are always happy to help.

We work for a vast variety of sectors such as landlords, barristers, building firms, restaurants etc.

Contact us and we will be happy to take this stress away!

📧 [email protected]
📱 01304 449043

14/07/2023

Alcohol Duty system changes are imminent 🍷

On 1st August 2023, the Alcohol Duty system will change, taxing all alcoholic drinks based on their alcohol by volume (ABV).

This replaces the current Alcohol Duty system, which consists of four separate taxes covering beer, cider, spirits, wine and made-wine.

Small businesses as well as pubs and restaurants could benefit from reduced rates on qualifying products, such as draught beer and cider.

See link for more information:

Today marks one month until the biggest Alcohol Duty reforms in 140 years come into effect.

13/07/2023

High energy use businesses urged to claim extra discount on energy bills 🌍

Energy-intensive businesses and heat network operators have less than three weeks to apply for UK Government support that could see their wholesale energy bills reduced by as much as a fifth. 💻

All eligible businesses are urged to act now to benefit from the support available through the Energy Bills Discount Scheme. Companies have until 25 July 2023 to apply, with discounts applied to their bills until April next year. 💡

See:

Energy-intensive businesses and heat network operators have a month left to apply for government support that could see wholesale energy bills slashed by as much as a fifth.

13/07/2023

12/07/2023

Advertising Standards Authority Advice for Small Businesses 💻

The UK advertising rules (known as the ‘CAP Code’ and ‘BCAP Code’), apply to businesses based in the UK and everyone who markets or advertises their business in ‘UK media’, from a sole trader right through to a global conglomerate.

These rules help ensure consumers are treated fairly, and that businesses benefit from a level playing field.

The Advertising Standards Authority (ASA) has created a new resource especially for small businesses. The resource is made up of a collection of materials to help businesses understand advertisement rules and how best to follow them. Topics include how to avoid misleading consumers, details on pricing claims and how to responsibly market promotions and competitions.

Please see the link to get more information and advice on advertising standards so that you don’t get caught out!

The starting point for businesses looking to get their ads right first time.

07/07/2023

DEADLINE FOR TOPPING UP NI CONTRIBUTIONS EXTENDED AGAIN TO 5 APRIL 2025 💰

With all of the changes to personal pensions in the Spring Budget, maximising the State Pension entitlement should not be overlooked. The full rate of new State Pension increased to £203.85 per week (£10,600 pa) from 6 April 2023; a 10.1% increase over the 2022/23 rate as a result of the “triple lock” being restored.

At least 10 qualifying years are required to get a UK State Pension, with full State Pension entitlement at 35 qualifying years. Individuals should log into their Government Gateway account to check their contribution record as they may be entitled to credit for missing years, for example if they were on maternity leave or a carer. They can also check how many more qualifying years they need for a full State Pension, and if necessary, make national insurance (NI) contributions for missing years.

Normally it is only possible to make voluntary NI contributions for the past 6 tax years, to top up any missing or partial years. The Government announced an extended deadline to allow taxpayers to make NI contribution in respect of missing years going back to April 2006. This opportunity was originally scheduled to end on 5 April 2023 and was then extended to 31 July 2023. The deadline has now been extended to 5 April 2025.

Class 3 voluntary NI contributions made before 5 April 2025 will be at the Class 3 voluntary NI rates for the 2022/23 tax year of £15.85 per week, or £824.20 for each full year.

05/07/2023

CAN WE STILL BE PAID £6 A WEEK FOR WORKING FROM HOME? 🏡

During the COVID pandemic the government relaxed the conditions to enable those working from home to be paid £6 a week tax free by their employer, or, where that was not paid by the employer, they could claim relief for £6 a week against their employment income for a tax refund from HMRC. Those relaxed rules applied for 2020/21 and 2021/22.

Many employers and employees may not be aware that from 6 April 2022 the rules reverted to the strict statutory position. Employees can claim tax relief if they have to work from home under a homeworking agreement, for example because:

🔸Their job requires them to live far away from the office
🔸Their employer does not have an office, or
the office is closed every Friday and employees are required to work from home that day.

Tax relief cannot be claimed if the employee choses to work from home.

03/07/2023

Self Assessment tax liability reminder ‼️💵

By 31st July, 50% payment on account of 2023/2024 self assessment tax liability is due!

30/06/2023

National Insurance numbers can now be saved to the Apple Wallet 📱

Your employeee may provide proof of their National Insurance number using their Apple Wallet rather than through their confirmation letter.

HMRC would like to assure you that this is genuine and should be accepted in the same way a letter would be.

HMRC are also working with android to get this feature working with Google Wallet.

29/06/2023

Making Child Benefit claims quicker and easier for new parents 📱

If you have employees who are about to become parents, they may be interested to know there is a new, easier way to claim Child Benefit online or using the HMRC app.

Parents can claim as much as £1,248 a year for one child, which could add up to almost £20,000 by the time they are 16. They could also receive nearly £827 a year for any other children they have.

Telling your employees about Child Benefit will help them to make the most of the financial support on offer to help with the costs of raising their children.

There is more to Child Benefit than just payments, by claiming they will also:

· receive National Insurance credits which count towards their State Pension
· make sure their child automatically gets a National Insurance number when they are 16 years old

If they or their partner earn over £50,000 a year they will have to pay the High Income Child Benefit Charge on some or all of the money they receive, but it’s still worth claiming, and they can even opt out of receiving payments.

The new, improved online service means many parents can now claim Child Benefit or add an additional child at a time that suits them. A straightforward claim, for example (where a child is under 6 months old) submitted online will be processed much quicker and first payments could reach customers’ bank accounts in as little as three working days.

There are two simple steps to using the HMRC app for the first time.

1. Download the free HMRC app from the App Store for iOS, or the Google Play Store for Android.
2. Sign in using a Government Gateway user ID and password. If they do not already have an ID and password, this can be created on the same sign in page.

Once this is all set up, signing into the app can be even faster with a pin, fingerprint or facial recognition. This gives customers everything they will need to know about their Child Benefit claim at their fingertips.

Encourage your staff to download the HMRC App or visit GOV.UK to make a child benefit claim, and help families access the support they are entitled to.